Combining the best of both worlds allows entrepreneurs to reap the financial rewards of business ownership while asserting greater control over their lives
As was reported in Bank of America’s Small Business Community, home-based franchises provide entrepreneurs with a greater measure of independence than a traditional brick and mortar model. But before you embark on this path of business ownership, there are a few issues you need to strongly consider.
You have to be clear about your goals, whether those are to make money, have greater control of your schedule, or spend more time with family. But more than that, industry experts say that having a passion for what you might do should figure prominently into your decision-making.
Home-based franchise operators need to be prepared to handle all aspects of the business during the start up phase, at least until the business is scalable enough to hire employees. It does not matter whether the business is being run from the kitchen table or a spare bedroom, it’s still a business and needs to run accordingly.
One such entrepreneur who found greater freedom, flexibility and autonomy through a home-based franchise was Jerry Cowley, owner of a Fresh Coat franchise in Hudson, Ohio. He credits Fresh Coat’s turnkey approach, at-home model and strong corporate support for his success.
“Working out your home can give you a little bit of freedom – freedom to be creative and take risks, without having other people around you all the time,” Cowley said in the Bank of America Small Business Community story. “To me, that is a motivating thing. Some people might fear that, but most entrepreneurs are independent people. And working out of their house is a good fit for that type of personality.”